Corporate funding activity into battery storage companies in the first quarter of 2023 fell considerably year-on-year and quarter-on-quarter, according to research from Mercom Capital.  

Battery storage companies raised US$17 billion in corporate funding in 2021 but have raised US$12.9 billion already this year. 

Mercom Capital Group’s Q1 2016 report reveals 50% drop in VC funding for battery and storage companies compared to last quarter’s figures.

This year will be the one when “PV energy storage systems (PVESS) make an enormous leap toward wide-scale adoption”, according to research firm IHS.

Energy storage and battery companies netted US$418 million in funding, while a further US$232 million changed hands in mergers and acquisitions (M&A) of battery or storage companies during 2014, according to a new report from Mercom Capital.